YouTube is currently the largest video sharing platform, with more than 2 billion monthly active users. Ever since its launch and subsequent acquisition by Google, the company expanded rapidly over the years. In the year, 2018, YouTube achieved a 90% market reach in the US. The popularity and success of YouTube, attracted a lot of other market players as well, which offers identical value offering to its stakeholders. In this article we have identified and discussed about the top competitors of YouTube in the video sharing platform sector. But, before we talk about the rival firms for your professional essay writing, let us first briefly discuss about the business model of the company. YouTube earns the majority of its revenue from advertisements on its platforms, and a small portion comes from subscription fees. The more user base it can develop, the more targeted advertisements it can sell to its clients. In the year, 2019, the company has made more than USD 15 billion in revenue from advertisements, which is a significant increase from USD 11.16 billion in the previous year. The competitors of YouTube follow almost identical business model, with minor variations. Let us look have a look at them.
Twitch has become quite popular over the years, especially among the younger audience groups. This video sharing platform allow users to host and live stream videos to their viewers. The popularity of this platform is attributed to its highly streamlined genre of video hosting. Unlike YouTube, which hosts a large variety of videos catered to a much wider viewer base, Twitch is focused on gamers, and primarily host gameplay or gaming videos. The business model of Twitch is quite identical to YouTube, as it earns from advertisements, but is also earns from other sources such as subscriptions and microtransactions. Twitch has been quite successful in building a cult following among gamers, which has helped the company to expand its platform significantly over the years.
Vimeo is an US based video hosting platform, just like YouTube, but is not funded by advertising. Instead of earning from advertisements the company earns from different subscription services from content creators. The company does not charge anything from the viewers, but offers different subscription-based storage spaces for content creators. This business model can be studied as a case study, where companies can generate revenue without ad hosting ad supported content. Moreover, Vimeo is more focused on offering a more enriched experience for the users without any distractions from advertisements.
Dailymotion is a French video sharing service, founded in 2005. This company follows the exact same business model like YouTube, where the majority of its revenue is earned from ad revenues. This model encourages content creator to upload more contents on the platform, which can then be monetized later under certain conditions. It should be noted that Dailymotion has certain restrictions for the content creators, limits the video upload up to 2 hours per day. Even though this platform is not as popular and widely used as YouTube, but it has shown some promising growth over the recent years.
Although Facebook is not a direct competitor to YouTube as each of these companies cater to a different user needs, but the rising popularity of Facebook Video can be considered as a competition for YouTube. Facebook allow users to share videos and video-based stories to the audience. Under certain conditions, the videos can be monetized by the content creators thereby encouraging them to create more contents. It should be noted that Facebook Video attracts the advertisers the same way as YouTube, reminds Essay Writer for me. Both of them offers them targeted advertisements to their own user base, which allows them to reach out to a massive audience base.
As per the online assignment assistance service, the discussion on YouTube competitors for your essay is incomplete without talking about IGTV. IGTV is a mobile video sharing platform designed for mobile devices. This application can be considered as an extension Instagram, where content creators can upload videos without any limitation, as there are in Instagram. This platform appeals to the massive user base of Instagram, who wants to post longer videos. Even though IGTV is at its infancy stage, but it has the potential to be a formidable rival for YouTube, as it also earns its revenue from the targeted advertisements.
YouTube is the biggest online video sharing platform in the world, which earns most of its revenue from selling targeted ads. Over the years, various video sharing and streaming platforms have come to surface, which poses significant threat to the company. For your college paper, you need to keep in mind that any company which can attract the business clients and the viewers away from YouTube is a potential rival. Companies like Twitch, IGTV, etc. follows the same business model as YouTube and can pose a prominent competitive threat to the firm.
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